Individuals of the Nationwide Affiliation of Insurance coverage Commissioners have elected Andrew Mais to be the gang’s president in 2024.
The effects imply that Mais, the Connecticut insurance coverage commissioner, will lead the NAIC because the group wrestles with the Division of Hard work over jurisdiction over annuity gross sales requirements.
Jon Godfread, North Dakota’s insurance coverage commissioner, would be the NAIC’s 2024 president-elect.
Godfread is 6 toes 11 inches tall. In 2019, Guinness Global Information indexed him as the sector’s tallest recognized elected professional.
What it method: Mais and Godfread can be two of the gamers who form the principles that resolve what sort of recommendation to offer retirement savers, how you can report the recommendation and how much prison legal responsibility is confronted for the ones suggestions.
The NAIC: U.S. federal legislation leaves law of the industry of insurance coverage to the states. The NAIC is a Kansas Town, Missouri-based team that is helping the highest regulators within the states and equivalent jurisdictions, such because the District of Columbia and Puerto Rico, do their jobs.
It does indirectly set rules or laws, however states steadily get started with NAIC fashions when drafting their rules and laws. In some instances, they organize for positive varieties of updates to current paperwork, similar to accounting paperwork, to take impact robotically.
NAIC officials: Chlora Lindley-Myers, Missouri’s insurance coverage director, is the present NAIC president.
Along with Mais and Godread, the opposite 2024 officials can be Scott White, the vp, and Beth Kelleher Dwyer, the secretary-treasurer.
White is commissioner of the Virginia Bureau of Insurance coverage, whilst Kelleher Dwyer is the Rhode Island insurance coverage superintendent.
NAIC participants elected officials Monday, all the way through a consultation in Orlando, Florida, on the team’s fall nationwide assembly.
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